TIDMBYOT
RNS Number : 8290M
Byotrol PLC
14 May 2020
Byotrol plc ("Byotrol" or the "Group")
License Agreements and Update on Trading
Byotrol plc (AIM:BYOT), the specialist infection prevention and
control technology company, is pleased to announce two new license
agreements and confirmation of continued strong trading.
New License Agreement in the USA with Integrated Resources
International LLC
We are pleased to announce that we have agreed a technology
license over Byotrol24, our EPA registered long-lasting germ kill
sanitiser spray, with a consortium of investors and experienced
market professionals under the umbrella of Integrated Resources
International LLC, based in Tennessee ("IRI").
The license is 10 years in term and gives exclusive rights over
Byotrol 24 and patents that support it in the Americas, subject to
certain clawback rights. In return for those rights, IRI has paid
to Byotrol an initial license fee of US$250k and will pay a
quarterly royalty payment based on product sales (with material
minimum annual guaranteed payments) thereafter.
The team behind Integrated Resources is already well-known to
the Group, including via its sister company Advanced Hygienics LLC,
which is currently licensing a Byotrol formulation of hand
sanitisers in the USA. This new agreement immediately injects
additional resources and expertise into the sales and marketing
effort for Byotrol24, without losing ownership of the brand and the
technology. Subsequent to this deal, Byotrol will no longer incur
material costs in the US.
New License Agreement with SC Johnson Professional Ltd
Our last trading update included reference to 'a material but
delayed new license contract that was eventually closed in
mid-April.' Having now completed legal formalities, we are pleased
to announce this agreement is a multi-year license agreement with
SC Johnson Professional Ltd in alcohol-free hand sanitisers. This
represents a strengthening in our existing relationship, moving
from a relatively short-dated supply and manufacturing agreement to
a longer-term technology license with guaranteed revenues, with no
changes to the previously announced market scope.
Current trading
As we start a new financial year, we are pleased to report that
sales momentum remains strong. We expect to generate record sales
in the first quarter of the year and are optimistic that high
levels of demand will continue for the remainder of the first half
at least.
Sales in March and April 2020 each exceeded GBP1m and we are
expecting to show similarly strong performance in May. Our order
book at the end of April stood at over GBP2m. The Group's supply
chain is working well despite the global shortage of biocidal
ingredients, exacerbated by unpredictable national lockdowns and
border closures.
David Traynor, Chief Executive of Byotrol, commented:
"We continue to make and supply as much of our excellent
technologies as we can and expect the current record level of sales
to persist in the short term and potentially beyond.
Our team is now increasingly focused on the longer term,
positioning for the post Covid19 world by entering into new
agreements that will increase distribution into markets that we
could not easily access ourselves and at a speed that we could not
achieve ourselves. The agreement with Integrated Resources and the
new agreement with SC Johnson Professional Ltd are two such
examples and we expect to complete more as the year continues."
Enquiries:
Byotrol plc
David Traynor - Chief Executive Officer
Nic Hellyer - Chief Financial Officer 01925 742 000
finnCap
Geoff Nash/Kate Bannatyne - Corporate Finance 020 7220 0500
Richard Chambers - ECM
Flagstaff Strategic and Investor Communications
Tim Thompson/Andrea Seymour/Fergus Mellon +44 (0)207 129 1474
byotrol@flagstaffcomms.com
This announcement is released by Byotrol plc and, prior to
publication, the information contained herein was deemed to
constitute inside information under the Market Abuse Regulations
(EU) No. 596/2014. Such information is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection
prevention and control company, operating globally in the
Healthcare, Industrial, Food and Consumer sectors, providing low
toxicity products with a broad-based and targeted efficacy across
all microbial classes; bacteria, viruses (including coronavirus),
fungi, moulds, mycobacteria and algae.
Byotrol's products can be used stand-alone or as ingredients
within existing products, where they can significantly improve
their performance, especially in personal hygiene, domestic and
industrial disinfection, odour control, food production and food
management.
Byotrol develops and commercialises technologies that create
easier, safer and cleaner lives for everyone.
For more information, please go to byotrol.co.uk
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END
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